New gas tanker charter party to build on existing contract

BIMCO’s Documentary Committee endorsed that work should be undertaken jointly with ASBA to develop the standard gas voyage charter party at its meeting on 14 May in Athens. The charter party will be codenamed ASBAGASVOY. Earlier this year, ASBA’s Board gave its full support to the joint development with BIMCO of ASBAGASVOY.

The new charter party will maintain the clauses from the existing ASBATANKVOY, which are generally relevant to the tanker trade, while replacing specific oil tanker clauses with clauses addressing the specialised nature of the gas tanker trade e.g. in relation to presentation of the vessel.

The new contract is intended to represent a balanced document and is intended for use of chartering tankers for LPG, anhydrous ammonia and chemical gases. LNGVOY, a voyage charter party for the carriage of liquefied natural gas, was published jointly by BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) in 2016.

The sub-committee that will develop the new contract includes representatives from Clarksons, Nordisk Legal Services, Petredec and Thomas Miller P&I (Europe) Ltd. The first meeting of the subcommittee will be held on 25 June 2019.